Can foreign nationals take out mortgage loans in Algarve?

Yes, non-residents can be issued a mortgage loan to buy property in Algarve. Special terms of mortgage lending for non-residents — the loan term up to 75 years of age for the eldest borrower and a down payment of 40–50%. The mortgage rate is a floating one, of 3% for residential properties and 5% for the commercial ones.

How does the property purchasing process take place in Algarve?

Before the purchase, it is necessary to hire a lawyer who would help you get the paperwork done. Having chosen the property, you need to open a local bank account and receive a tax identification number. First, a preliminary sales agreement is signed, a deposit equalling to 10–30% of the property value is placed, and the municipal taxes are paid. The deposit is non-refundable if the buyer decides not to purchase. All agreements ought to be notarised. Between signing the preliminary and main sales agreements, the lawyer completes the property Due Diligence and checks the availability of all the documents for the property. When signing the main agreement, the remaining transaction amount is paid, after which the property can be registered with the land registry office and a title deed can be obtained.

What property taxes are there in Portugal?

Property buyers pay a stamp duty (Imposto do Selo, IS) — 0,8% and a title deed transfer tax (Imposto Municipal sobre Transmissões, IMT) — 6,0 – 6,5%. After the purchase, an annual real estate tax (Imposto Municipal sobre os Imóveis, IMI) ranging from 0.3 to 0.8% across property types and municipalities, has to be paid. These three taxes — are everything that is paid by property owners. When selling real estate, non-resident owners pay the capital gain tax, chargeable from the difference between the purchase price and the sales price at a rate of 28%. The inheritance and gift taxes are not levied from spouses, children, parents and grandchildren, the other categories pay them at a rate of 10% (which is considered low).

How expensive are the utilities in Algarve?

The utility costs vary across locations. For example, an average bill for an 50–60 m² apartment totals about € 100-130 per month.

How can a property buyer obtain Portuguese citizenship?

It is possible to apply for permanent residency after five years of residence in the country. After six years of residence it is possible to apply for citizenship. But these procedures are not interrelated. Holding a temporary residence or permanent residence permit does not lead to obtaining citizenship. Only following the rules of stay in the country (over 183 days per year for six years) can give hope for obtaining Portuguese citizenship.

Can foreign nationals lease real estate in Portugal?

Yes, of course. The owner's right to administer their property is not limited in any way.

What types of Portuguese property are better to invest in for rental purposes?

The most suitable for rental purposes are the flats and apartments located in the resort areas, such as the Algarve, Faro, Lagos, on the entire southern coast and the capital of the country, Lisbon.

Why do I need to own real estate in Portugal?

The Portuguese property market is one of the European real estate markets that have been growing most actively over the past few years. Therefore, real estate investments are very profitable in the country.

Cheap Property for Sale in Algarve from 79,000€

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2 Bed. Villa under Renovation for 178,000 €

2 Bed. Villa under Renovation

178,000 €

£152,000

Total area 75 m²Land area: 2,430 m²2 bathrooms

Ruin with land near Boliqueime for 140,000 €

Ruin with land near Boliqueime

140,000 €

£120,000

Land area: 2,033 m²

90 m long swimming pool!

The Community — investment apartments by Aqua Properties with 9,5% yield per annum in the center of the developing area of Motor City, Dubai

From 132,000 €

Completion in: 2025 Yield: 9.0% Apartments in total: 450

Residential complex

Tourist apartments with a yield of 4% in a new apart-hotel, Algarve, Portugal for 220,000 €

Tourist apartments with a yield of 4% in a new apart-hotel, Algarve, Portugal

220,000 €

£188,000

Total area 81 m²1 bedroomYield 4.0%

Rustic Land for Agricultural Activities for 215,000 €

Rustic Land for Agricultural Activities

215,000 €

£184,000

Land area: 142,593 m²

Plot of Land w/ sea views

139,000 €

£119,000

Land area: 32,966 m²

Plot & Ruin with clear views for 130,000 €

Plot & Ruin with clear views

130,000 €

£111,000

Land area: 468 m²

Discounted properties upon request

Send us an enquiry, we will find advantageous offers for you

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We find off-market properties
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Old house w/ Approved Project for 159,000 €

Old house w/ Approved Project

159,000 €

£136,000

Land area: 116 m²

2 weeks ago

Industrial Construction plot for 220,000 €

Industrial Construction plot

220,000 €

£188,000

Land area: 7,841 m²

Building Land & Ruin

79,000 €

£67,000

Land area: 2,975 m²

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Package of three micro studios for a Golden Visa and a guaranteed 5% return in Egaleo, Greece

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New studio apartments in the center of Athens, Attica, Greece

From 110,000 €

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Two buy-to-let apartments in same building, Kipseli district, Athens, Greece

200,000 €

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Total area 137 m²3 bedrooms2 bathroomsYield 3.65%

New apartments in a residential complex with a swimming pool, a garden and a parking, Kallithea, Attica, Greece

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New residential complex of buy-to-let turnkey studios, Piraeus, Attica, Greece

From 80,000 €

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Two-bedroom bright apartment with a tenant in Attiki area, Athens, Greece

115,000 €

With balcony/terrace

Total area 60 m²2 bedrooms1 bathroom

Modern residence in the historic and vibrant area of Kolonos, Athens, Greece

From 188,000 €

Total of 30 apartments

New residence with a garden in a quiet area, close to the center of Athens, Paleo Faliro, Greece

From 190,000 €

Completion in: 2025.ITotal of 35 apartments

Low-rise residence in the heart of Athens, Greece

From 185,000 €

Yield 4.0%Total of 6 apartments

Complex of furnished apartments at 750 meters from the port, in the center of Piraeus, Greece

From 107,000 €

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Furnished two-bedroom apartment in Athens, Attica, Greece

126,000 €

Furnished

Total area 55 m²2 bedrooms1 bathroom

Newly renovated flat in the center of Athens, Kukaki district, Greece

190,000 €

City center

Total area 53 m²1 bedroom1 bathroom

Buy-to-let one-bedroom apartment in Agios Panteleimonas area, Athens, Greece

115,000 €

Total area 58 m²1 bedroom1 bathroom

Renovated buy-to-let apartment near the Acropolis, Athens, Greece

130,000 €

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Total area 45 m²1 bedroom1 bathroomYield 6.0%

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Spacious apartment in a residence with a garden and a swimming pool, Lloret de Mar, Spain

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First and foremost Tranio is a very motivated team of professionals who surely know their job! We are very pleased with their well-coordinated work, timeliness of responses to the questions posed, and willingness to act in case of unusual situations.
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Coldwell Banker
It is with much enthusiasm that I personally recommend Tranio for a professional business collaboration in the ﬁeld of real estate, marketing, acquisition, and ﬁnance. The fundamentals of our business relationship with Tranio were set in 2016. Mundial AG has received the company’s great reputation throughout a number of international business pai’tners and stockholders. Tranio has helped our company to expand its horizons to the global market and has established benchmarks that would extend Mundial AG’s networks. The company has exceptional connections to potential investors and has a proﬁcient team that is capable of forming compound ﬁnancial models that attract ﬁnanciers. The cooperation with Tranio is based on professionalism, effectiveness, and Hypovﬂemsbank scrupulousness. Our experiences with Tranio are encouraging and progressive, which makes them one of our preeminent business paitners.
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Z. Farkas, Mundial AG
We are glad to have a partnership with Tranio! It offers a vast online property base and the best services.

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Cheap property for sale in Algarve